SC order on transfer pricing on transfer of power to sister unit, claim of expenses

CIT Vs Jindal Steel & Power Limited (Supreme Court of India) The Supreme Court in this case was dealing with bunch of matters where identical issue regarding the transfer price of power was subject matter and three other issues. RECOMPUTATION OF DEDUCTION UNDER SECTION 80 IA OF THE INCOME TAX ACT, 1961. The assessee in this case charged its sister unit @ Rs 3.72 per unit which was the price at which the said sister unit would have paid the price if it would had purchased the power from SEB. However, in respect of surplus power which the assessee generated , it had to sell the same to SEB @...